During 2018,a company provided services for cash of $33,600 and services on credit of $24,000.The company collected accounts receivable of $12,800 and incurred operating expenses of $36,320,$22,400 of which were paid during the year.The amount of net income (loss)for the year is:

Question

Quizplus · Accepted Answer

Net Income = Revenues (Services performed for cash + Services performed on account)− Expenses
= ($33,600 + $24,000)− $36,320 = $21,280

During 2018,a Company Provided Services for Cash of $33,600 and Services